Don’t let anyone tell you that your birthday is just another day. Each revolution around the sun may mean greater access to your retirement savings and other assets. That’s worth celebrating. As you start to prepare for retirement from AT&T, there are some birthdays that are more important than others.
Choosing when to retire is one of the most important – and sometimes difficult – financial decisions to make. You must align your personal needs and aspirations with the economic realities of your situation.
Something we emphasize when meeting with new clients is that their financial plan is dynamic. The goal is to continuously work toward or preserve the life you want. So, it changes as market conditions, government policy, economic factors and personal financial conditions make it necessary to change. It changes as your life changes. In other words, it is never perfect.
Advance Capital Management’s president and chief investment officer, Christopher Kostiz, provides his key economic and market insights from the most recent quarter.
As we enter 2020, we would like to start off the new year by expressing our gratitude to everyone who has enjoyed Advance Capital’s Financial Living Blog. It was one of our best years yet, with well over 100,000 readers. Without the support of readers like you, none of this would be possible.
When planning for your future, you should focus most on the factors you can control. But you still must be mindful of those factors out of your control, one of which is government policy.
The happiness we feel about our money, work, relationships, life in general, isn’t derived by only what happens, but also how we perceive what happens.
How significant are a few additional steps?
For an elite marathoner, a few inspired steps can be the difference between a respectable time and a first-place medal. For a politician, a few more hands to shake and babies to kiss can be the difference between elected official and also-ran. For an architect, a few more feet can be the difference between tall and tallest in the world.
In November, the interest rate used to calculate AT&T pension payouts – the Composite Corporate Bond Rate – was lowered to 2.94%. That means, if you’re an AT&T employee who may retire between now and the end of the year and would like to elect a lump sum, your payout may be larger than last year.